Case struck out after deal agreed with Feniton Property Finance following mediation

A dispute between a financial fund and a partnership comprising broadcaster Gay Byrne, his wife Kathleen and their two daughters has been settled.

Feniton Property Finance DAC had sought summary judgment of €1.2 million against the Clonskeagh Partnership arising out of an alleged failure to repay a loan advanced more than a decade ago.

The partnership is made up of Gay Byrne and his wife Kathleen of Shrewsbury Square, Sandymount Avenue, Dublin 4, and their daughters Susan O’Byrne an office manager of Onslow, The Baily Howth, Co Dublin and Crona Byrne, an entrepreneur, of Tinerana, Raheenmore in Co Clare.

In 2015, the fund acquired a loan of €1 million advanced to the partnership from Bank of Scotland (Ireland) in August 2007. The fund claimed the purpose of the loan was to fund an investment by the partnership in the Quinlan Private CERDII Fund.

The claim was admitted to the fast track commercial court list in November by Mr Justice Brian McGovern.

Mediation

The dispute went to mediation, and on Friday the judge was informed the matter had been resolved and could be struck out. No details were given.

Previously, the Commercial Court was told the loan was advanced to the partnership for a period of six years which expired in 2013.

In November 2015, the fund purchased the loan from BOSI. In its proceedings, Feniton claimed the monies borrowed were not repaid, and made a demand for payment of €1.2 million in April 2017.

The fund claimed the demand was not satisfied and the dispute was later admitted to the commercial court list.